4 Payment Gateways infiltrating the SME market in India

By Delisha Fernandes

Payment gateways have rapidly become ubiquitous in our daily transactions. India boasts leading FinTech companies that provide these payment gateways for startups. In 2025, the Indian payment gateway market was projected to reach around 1.71 billion U.S. dollars. Virtually all startups have transitioned to online payment solutions, aiming to tap into the global market and streamline transactions for their customers.

A payment gateway is an application designed to simplify the online payment process. It serves as a technological intermediary between customers and merchants, ensuring the secure and swift transfer of confidential information, such as credit card numbers, from the customer to the acquiring bank through the merchant’s e-commerce website.

Here are 4 Payment Gateways infiltrating the SME market in India:

• airpay

Airpay is a unique payment platform that helps e-commerce & retail companies collect contactless payments. The company allows businesses to envision a world beyond cash, providing the best experience to merchants and their customers. airpay is an all-encompassing payment solution provider, working towards making monetary transactions simpler, easier and quicker.

• Cashfree Payment gateway

Cashfree Payments is a payment and API banking solutions company. It provides full-stack payment solutions, enabling businesses in India to collect payments and make payouts via all available methods with simple integration. Cashfree Payments’ offerings include an advanced and easy way to integrate payment gateways, a split payment solution for marketplaces, bank account verification API, and Auto Collect — a virtual account solution to match inbound payments to customers.

• PayKun

PayKun empowers digital transactions by providing a secure payment gateway service for Indian Merchants/Sellers of any size to provide their customers/clients with a safe buying experience. PayKun features over 120+ payment options, which include various banks’ credit cards, debit cards, net banking, and wallets to accept payment easily. The company provides trouble-free, fast onboarding and easy integration technical support. To feel the service strength, the company offers 24/7 quick customer support through chat, call, and email.

• Zaakpay

Zaakpay, a payment gateway by MobiKwik, enables efficient collection and disbursement of payments. With Zaakpay, merchants get hassle-free integration and safe & secure payment processing. Zaakpay’s product portfolio includes checkout, payment links, and QR code payments, thus supporting businesses in accepting and disbursing payments seamlessly. With these products, merchants can access 100+ payment modes such as Credit Cards, Debit Cards, Net Banking, UPI, Wallets, Pay Later and more.

ALSO READ: Global Payments Vendors and Landscape Report Q4 2023